CryptoCurrency Mining with GPUs *spawn*

[Deleted member 13524]

Anyone understand what's going on with ETH?

Yes.

All cryptocoins have been crashing hard since mid-January mostly due to their dependency on bitcoin, but ethereum pretty much held its value for another 2 weeks. This led a great number of miners who were doing other stuff to transition to ETH during that time.
Since difficulty is dependent on the number of miners, more miners = harder to mine.
Meanwhile, ethereum started to crash too. But since it hasn't been crashing for as long as the others, its relative value compared to early January is still substantially higher, so you're bound to see the difficulty pretty high for quite some time.


For example, XMR is now worth less than half than its early January value. At some point, only Vega cards and server or low-power CPUs will be profitable. I know I'm probably transitioning my RX480 to nicehash at some point this week. I also have a GTX660 Ti mining XMR but that one is coming out, or maybe I'll put it on nicehash too.

 

[mrcorbo]

Yes.

All cryptocoins have been crashing hard since mid-January mostly due to their dependency on bitcoin, but ethereum pretty much held its value for another 2 weeks. This led a great number of miners who were doing other stuff to transition to ETH during that time.
Since difficulty is dependent on the number of miners, more miners = harder to mine.
Meanwhile, ethereum started to crash too. But since it hasn't been crashing for as long as the others, its relative value compared to early January is still substantially higher, so you're bound to see the difficulty pretty high for quite some time.


For example, XMR is now worth less than half than its early January value. At some point, only Vega cards and server or low-power CPUs will be profitable. I know I'm probably transitioning my RX480 to nicehash at some point this week. I also have a GTX660 Ti mining XMR but that one is coming out, or maybe I'll put it on nicehash too.

I suggest you consider MiningPoolHub as an alternative to NH. Depending on your preferences, it may be a better option.

 

[Deleted member 13524]

I suggest you consider MiningPoolHub as an alternative to NH. Depending on your preferences, it may be a better option.

Thanks, I'll consider that too.

Any quick mention of pros and cons compared to nicehash?
I know nicehash lost a bunch of money some time ago and many customers are still waiting to see if they'll ever have their money back.

 

[mrcorbo]

Thanks, I'll consider that too.

Any quick mention of pros and cons compared to nicehash?
I know nicehash lost a bunch of money some time ago and many customers are still waiting to see if they'll ever have their money back.

Big pro is auto-exchange of mined coins to any alt-coin they support for mining. Also a lot more control of when and how you get payouts.

Cons are added complexity and some delay between mining and receiving payout in your preferred coin as the "mine pool shares->share payout in mined coin->auto-exchange to preferred payout coin" process takes place in stages which can take a few hours each.

Once set-up and flowing, though, the payouts are pretty regular.

 

[Pressure]

Unless you have free power or a giant rig, with the current difficulty and low payout there is really no reason. BTC down to $6K and the rest have followed. Monero barely 1/3 of its mid-january value.

 

[entity279]

200TH/s needs between 6.7M to 11.2M RX 580s, given uncertainties of optimization and uptime.

And now we are @ 8.5ish/day net profits for a 8 x RX580 rig, all because of the massive falling of all crypto prices. The network hashrate is just @230 TH.

Graphic cards should begin to pop up any day now..

____________________________________
I'm reminded of how much safer is mining crypto coins vs buying them.
My rigs are there to mine for another day.

On the other hand , I've bought some coins worth of $4000 in December which were easily worth $7000 in january. I'm pretty confident the prices will recover at some point (it may take a few months or a who knows, even a few years) and I probably won't turn a loss. But had I bought those coins now, my portfolio would've been so much larger ..

 

[Pressure]

I'm reminded of how much safer is mining crypto coins vs buying them.
My rigs are there to mine for another day.

On the other hand , I've bought some coins worth of $4000 in December which were easily worth $7000 in january. I'm pretty confident the prices will recover at some point (it may take a few months or a who knows, even a few years) and I probably won't turn a loss. But had I bought those coins now, my portfolio would've been so much larger ..

Out of curiosity, what did you buy?

 

[entity279]

Out of curiosity, what did you buy?

$ADA, $XLM, $XRP, $LTC, $NAV, $NEO

 

[mrcorbo]

Unless you have free power or a giant rig, with the current difficulty and low payout there is really no reason. BTC down to $6K and the rest have followed. Monero barely 1/3 of its mid-january value.

It's winter and I have electric heat. ANY value generated is better than burning electricity for heat straight up.

One (of the few) benefits of my low risk-low reward strategy is that it's pretty easy for me to shrug off down-turns in the market. Even if I end up holding a bag, the bag isn't very heavy.

 

[Deleted member 13524]

Unless you have free power or a giant rig, with the current difficulty and low payout there is really no reason. BTC down to $6K and the rest have followed. Monero barely 1/3 of its mid-january value.

Monero is still profitable for me, but that's mainly because I own a Vega 64 that does the blunt of the hashing.
That and a server CPU with 25MB L3 that mines around 480 H/s consuming ~90W.

Also, heat is good for the house right now.

 

[Mize]

Mining coins that are worth HODLing or mining alts then quickly converting to "infrastructure" cryptos is still with it, provided you are playing the long, "HODL" game.

(HODL is a reference to a more infamous post with that typo)

And, yes, gpus are already more available.

 

[Rootax]

Monero is still profitable for me, but that's mainly because I own a Vega 64 that does the blunt of the hashing.
That and a server CPU with 25MB L3 that mines around 480 H/s consuming ~90W.

Also, heat is good for the house right now.

I've a Vega FE (approx 1450h/s without blockchain drivers) and a 5820k (approx 400h/s), and the montly gain is very low (and lower and lower)

 

[Deleted member 13524]

I've a Vega FE (approx 1450h/s without blockchain drivers) and a 5820k (approx 400h/s), and the montly gain is very low (and lower and lower)

Don't bother going for XMR if you're not willing to use the blockchain driver. Might as well just mine something else.

Although they seemingly included the blockchain optimizations on recent drivers, AMD has taken off the compute switch from the drivers for Vega cards because apparently it's automatic.
But for some reason, mining XMR on Vega doesn't kick off the compute paths, so you're bound to get terrible performance.

Vega cards are the best for XMR only if you're using the 17.30 blockchain driver. Otherwise they're on par with nvidia cards in terms of hashing/power consumption.

 

[mrcorbo]

Mining coins that are worth HODLing or mining alts then quickly converting to "infrastructure" cryptos is still with it, provided you are playing the long, "HODL" game.

(HODL is a reference to a more infamous post with that typo)

And, yes, gpus are already more available.

Alternatively, "(H)ang(ing) (O)n for (D)ear (L)ife".

 

[Rootax]

Don't bother going for XMR if you're not willing to use the blockchain driver. Might as well just mine something else.

Although they seemingly included the blockchain optimizations on recent drivers, AMD has taken off the compute switch from the drivers for Vega cards because apparently it's automatic.
But for some reason, mining XMR on Vega doesn't kick off the compute paths, so you're bound to get terrible performance.

Vega cards are the best for XMR only if you're using the 17.30 blockchain driver. Otherwise they're on par with nvidia cards in terms of hashing/power consumption.

I have approx 1950 with blokchain. Not night and day when you have only one card.

 

[Deleted member 13524]

I have approx 1950 with blokchain. Not night and day when you have only one card.

A 35% increase in hashrate performance isn't night and day to you?

Take away the losses for power consumption and a 35% increase could mean doubling your profits.

 

[Rootax]

When the profit is already ridiculous, it's doesn't really matter. Few month ago, sure. Now, it's a joke... And it's maybe good for gamers and vga cards price in the end...

 

[Deleted member 13524]

AMD's (former hardware.fr's) Damien Triolet is suggesting people to mine cryptonight coins with Threadrippers to lower the hardware investment.

http://www.techradar.com/news/amd-s...hreadripper-to-make-upgrading-your-pc-cheaper

I'm seeing threadrippers doing over 1300 H/s on monerobenchmarks.info, which is pretty neat for a 180W power consumption. Only the Vega cards can surpass this in power efficiency.
With 32MB L3, they're probably using all 16 threads reaching >80 H/s each. That's how much I get with each of my Ivybridge cores at 2.7GHz when using power saving (hyperthreading + 4MB L3).

 

[Pressure]

Xeon Phi 7210 does ~2800 H/s at 215 W and the Xeon Phi 7250 does ~3100 H/s. Of course they aren't priced entirely competitive

 

[entity279]

Yeah but how fun would building a Cryptonight exterminator with an (dual?) Epyc processor and 2-3 (for startes, just got reminded how many PCIe lanes Epyc has) Xeon Phi accelerators be?